Captain Simpson was aboard ship somewhere in the West Indies. Late one evening an unsavory looking seaman asked to see him. After some discussion the fellow was admitted to the captain's cabin, where he joined the captain and his mate Jackson. It seems that the man was desperately looking to transport some contraband to Spain.
He began talking of Spanish gold. Starting slowly, he received no reaction from captain and mate, so the price gradually increased. When he offered 1,000 gold pieces Captain Simpson abruptly drew his pistol and ran the man out of the cabin, all the while asserting his loyalty to "His Majesty."
"Why did you run the swab off so quickly," inquired Jackson.
"Bah," growled the captain, "He was too close to me price ..."